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IFIN INVESTIGATION
NCLAT revives IL&FS plea in Rs 1,080 crore circuitous transactions, sets aside NCLT orderThe National Company Law Appellate Tribunal (NCLAT) has revived IL&FS's plea concerning Rs 1,080 crore in alleged circuitous lending transa...- IL&FS probe: PMLA court grants bail to ABG Shipyard chairman Rishi Aggarwal, wifeThe Enforcement Directorate (ED) probing the case has accused Aggarwal and his companies of causing loss of over Rs 2,000 crore to IL&FS Fi...
- NFRA can carry on probe of IFIN audits: Delhi HCWhile hearing the case on Wednesday, the court, however, said no order should be made effective or put on the regulator’s website without s...
- IL&FS: NCLT allows govt to prosecute auditors Deloitte, BSR; C Sivasankaran and 2 independent directorsThe corporate affairs ministry can now go ahead with prosecution based on the probe conducted by the SFIO.
- Due diligence skipped for personal gains by IL&FS 'coterie', says EDED claims despite IFIN profits declining, sitting fee of accused Saha and Ramchand increased.
- IFIN group lending: BSR says it had sought clarity from RBIBSR said the investigators had made false allegations against the auditors without understanding accounting principles and regulations.
- Ex-CEO of IL&FS arm helped Fitch official buy villa, says probe report; Fitch investigating matterIL&Fs enjoyed high ratings from rating cos due to window-dressing of the company's books, the probe has found.
- SFIO suspects links of IFIN brass with senior RBI officialSFIO, which is investigating the IL&FS case, has suggested that the RBI launch an internal investigation into the issues linked to the NBFC...
- IL&FS probe: Ex-CEO of subsidiary helped rating agency official buy villa at discountSFIO found out that auditors sold certain products to the top management with a massive discount.
- Funds blindly trusted rating agencies while investing in IFIN, feels SFIOFour rating companies had been involved in rating various instruments of IFIN during the period 2013-2018.
- SFIO shows grey areas in IFIN evergreeningMost of the exposure to A2Z Group was rolled over for three years and planned to be migrated to a special purpose vehicle formed for the Ka...
- IL&FS fraud: Whistleblower sought to uncover it in 2017, but top-brass covered it upIFIN's lending to group companies jumped to around Rs 5,200 crore, which was 37 per cent of the company's total loans and advances in 2017-...
- IFIN case: Deloitte ignored RBI rules, finds SFIO probeDeloitte had disregarded the RBI's regulations and turned a blind eye to IFIN’s 'evergreening' of loans.
- IL&FS case: SFIO recommends action against auditors, action for recovery of lossesSFIO has also recommended a necessary action as per the Companies Act by the current management of IL&FS Financial Services (IFIN) for reco...
- How an IL&FS arm systematically kept lenders in the darkSFIO said IFIN forged documents and didn’t disclose adverse findings about its ability to meet liabilities.
- RBI had asked IFIN to clean up its books by 2019The central bank had raised objection over loans to group companies in 2017 review, sought corrective action.
- SFIO says RBI could've acted faster on IL&FSSFIO's chargesheet suggests the RBI should conduct internal inquiry & take 'appropriate action'.
- IL&FS default: Role of LIC officials under SFIO lensThe agency is seeking information about the funding of ITNL by IFIN since LIC was one of the lenders to IL&FS.
- SFIO finds Deloitte due diligence below par in IL&FS financial services auditReport says Bawa-helmed IFIN’s borrowings were made on basis of ‘fraudulently spruced up financials’.
- SFIO arrests ex-chairman of IL&FS Hari Sankaran on grounds of abusing his powerSankaran, the first person to be arrested in the case, has been remanded into SFIO custody till April 4.
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